@Chris Kovarik
Are you looking to invest in turnkey or to renovate? I know alot of people will encourage to leverage & this is a good option, many times you can get 2 properties for what you have cash on hand. However, there is more to the picture.
If this is a turnkey property, will you be self-managing or using a Property Management firm. Those fee's can add up, property taxes, maintenance? I don't know your position. Personally, for me that is, I like to do things one at a time. It takes a little more time, however, I have found Cash is King & I can save some money with turnkey providers buying cash...sometimes they will pay for some of the closing costs too. Buying one at a time, even though my portfolio grows slower, I am able to get a better handle on everything...tenants, rents, taxes etc. I can also always refinance it at a later date.
s far as neighborhoods....if you have a great strategy, such as PM etc., I don't see a bad area in KC. I know some people will argue about the Urban Core, it might be a little rougher, less desirable, however, it has great returns & some of the areas that skirt it isn't that bad. Kansas City as a whole is a great area to invest in.